Twitter’s Q1 Revenue up 16% to 41.2b as Musk takes Over

Twitter’s revenue grew 16% year on year to 41.2 billion in the first quarter ended March 31, the US-based microblogging platform said. Revenue was up 19% in constant currency terms the social media company said, adding it faced head winds related to the ongoing Russia-Ukraine conflict. At the beginning of the quarter, Twitter said would sell its ad plat from MoPub Acquire; the revenue growth was 22%. Net income came in at $513 million, representing a net margin of 43% and diluted earnings per share (EPS) of $0.61. The net income includes a pretax gain of $970 million from the sale of MoPub and income tax related to the gain of 4331 million. This compares to net income of $68 million, a net margin of &% and diluted EPS of $0.08 in the same period of the previous year. The company’s results showed that its average monetizable daily active usage (mDAU) was 229 million for the first quarter, up 15.9% compared to the same quarter in the previous year. Cost and expenses totaled $1.332 billion, an increase of 35% year over-year. This resulted in an operating loss of $128 million and operating margin of minus 11%, compared to an operating income of $52 million, or 5% operating margin. In the same period of the previous year. S-ET

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